GBPUSD Forecast:

The GBPUSD made a huge bearish movement yesterday, slipped below 1.4779, bottomed at 1.4712 but corrected higher around 1.4850 at the time I wrote this comment. The bias is bearish both in nearest and medium term. Another movement below 1.4779/60 area could continue the bearish pressure testing 1.4712 and 1.4660 before testing 1.4500 region. On the upside, immediate resistance at 1.4932 (current high). Break above that area could trigger further bullish correction testing 1.5000 area but I prefer a bearish scenario at this phase with short on rallies strategy.

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